25 nations with most MILLIONAIRES by 2020

25 nations with most MILLIONAIRES by 2020

A study by New York-based Deloitte Center for Financial Services, titled The next decade in global wealth among millionaire households, says India is likely to experience the largest growth of a whopping 405 per cent in total millionaire wealth over the next decade.

The study says that emerging markets will see a significantly higher growth rate in millionaire households compared to developed markets.

The growth in millionaire wealth in India is expected to vary across different wealth cohorts, or groups.

The $5 million to $30 million cohort in India will likely see the greatest growth, at 161 per cent, while the $1 million to $5 million cohort and $30 million-plus cohorts follow closely with likely growth rates of 142 per cent and 115 per cent, respectively, over the next decade.

The $1 million to $5 million cohort will likely continue to dominate the share of millionaire households, with 73 per cent of millionaire households belonging to this cohort in 2020 in India.

While India ranks lower than the other BRIC nations in average density, the analysis suggests that the number of millionaire households in India will grow from 286,000 to 694,000 between 2011 and 2020, a growth rate of 143%.

This would include approximately 0.51 million millionaire households in $1 million to $5 million wealth cohort, 0.13 million millionaire households in $5 million to $30 million wealth cohort and 0.05 million millionaire households in the $30 million-plus cohort.

Additionally, the study indicates that the average wealth per household in India is almost 50 per cent higher than that of China.

25 nations with most MILLIONAIRES by 2020

According to the study, the number of millionaire households in China will grow from 1,312,000 to 2,500,000 between 2011 and 2020, a growth rate of 91%. China's wealth among millionaires will grow by 394 per cent.

The $30m+ cohort will likely see the greatest growth, at 609%, while the $1m-$5m cohort and $5m-$30m cohorts will likely grow 85% and 48%, respectively, over the next decade.

However, the analysis suggests that the $1m-$5m cohort will continue to dominate the share of millionaire households, with 59% of millionaire households belonging to this cohort in 2020.

25 nations with most MILLIONAIRES by 2020

The study says that the number of millionaire households in South Korea will grow from 520,000 to 1,730,000 between 2011 and 2020, a growth rate of 233%.

As per the analysis, the $1m-$5m cohort in South Korea will see the greatest growth, at 246%, while the $5m-$30m cohort and $30m+ cohorts will likely grow 158% and 197%, respectively, over the next decade.

The $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 87% of millionaire households belonging to this cohort in 2020.

25 nations with most MILLIONAIRES by 2020

The Deloitte study says that the number of millionaire households in the United Kingdom will grow from 2,904,000 to 3,814,000 between 2011 and 2020, a growth rate of 31%.

Similar to Australia, but unlike other DM economies included in this study, the $1m-$5m cohort in the United Kingdom will likely see the greatest growth, at 32%, while the $5m-$30m cohort and $30m+ cohorts will likely grow 20% and 27%, respectively, over the next decade.

The study suggests that the $1m-$5m cohort will continue to dominate the share of millionaire households, with 97% of millionaire households belonging to this cohort in 2020.